Trade deal hopes boost Asian markets

Singapore

TRADE optimism that buoyed US markets on Friday had a similar effect on Asian markets on Monday, as investors clung to positive comments about progress on a US-China trade deal.

Echoing comments made by the US and China on Friday, US commerce secretary Wilbur Ross told leaders at the 35th Asean summit in Bangkok that the two countries were making progress on their trade deal, and an agreement to walk back some of the tit-for-tat tariffs was "very far along".

The overall boost to sentiment lifted the Straits Times Index (STI) as much as 0.6 per cent in the morning session. It retreated during the rest of the day, eventually closing 0.22 per cent or 6…